Live Nation Entertainment, Inc. $LYV Stock Holdings Increased by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 37,507 shares of the company’s stock after purchasing an additional 375 shares during the quarter. ProShare Advisors LLC’s holdings in Live Nation Entertainment were worth $5,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company’s stock worth $2,596,305,000 after acquiring an additional 713,020 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Live Nation Entertainment by 4.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company’s stock valued at $1,179,129,000 after purchasing an additional 379,924 shares during the period. Independent Franchise Partners LLP increased its stake in Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock worth $744,118,000 after purchasing an additional 1,004,574 shares in the last quarter. Findlay Park Partners LLP raised its holdings in Live Nation Entertainment by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 2,403,300 shares of the company’s stock worth $313,823,000 after buying an additional 32,200 shares during the period. Finally, Third Point LLC lifted its stake in Live Nation Entertainment by 22.1% during the first quarter. Third Point LLC now owns 2,100,000 shares of the company’s stock valued at $274,218,000 after buying an additional 380,000 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Evercore ISI lowered their price target on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.84.

Live Nation Entertainment Trading Down 2.6%

Shares of NYSE LYV opened at $136.90 on Friday. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 12.85 and a beta of 1.37. The business has a 50 day simple moving average of $156.38 and a 200 day simple moving average of $151.22. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.